If you are turning 71 this year you will need to close your RRSP by December 31. This being said, it doesn’t mean you have to leave the CEIRP plan. You may have already been contacted by Canada Life and have made a decision about opening a CEIRP RRIF. This account offers the same [...]
Here are some ideas on how to stay financially disciplined starting in your 20s through to your 40s: Twenty-something: Do you know where your money goes? Knowing how you spend money now will benefit you in the long-term. There are lots of financial apps that you can try, which are designed to make budgeting and [...]
Summary for the Third Quarter of 2021 Presented by Mackenzie Investments Click here to read more.
Summary for August 2021 Presented by Mackenzie Investments Click here to read more.
With the summer ending and fall here, schooling and education tends to be top of mind for many families. With the rising costs of post secondary education, many families wonder how and when to start saving. It can be difficult for students to cover post-secondary expenses from their earnings alone, which are usually very [...]
TFSA stands for the Tax Free Savings Account Anyone can have an account—almost: Any Canadian resident over 18 years old can contribute to a TFSA. Annual limit: In 2022, the contribution limit for TFSA is $6000. For this year, your cumulative contribution limit is $81,500. Withdraw funds with ease: Unlike an RRSP, a TFSA [...]
Some members might not be sure about how Individual and Group RRSPs work. Here's a quick refresher sourced from the Canada.ca website: The Registered Retirement Savings Plan helps you save for retirement during your working years You can contribute 18% of your previous year’s income (total limit for 2020 is $27,230). The amount that [...]
Summary for July 2021 Presented by Mackenzie Investments Click here to read more.
CEIRP keeps growing which means we can all enjoy lower investment management fees! When the plan started in 2004, fees were 1.1%. After six reductions, the fees will now be reduced by .5% to .48% — a 56.4% reduction since our inception. This change applies immediately to the RRSP, NRSP, TFSA and the RRIF/LIF. [...]
